Algeria's Macroeconomic Statistics
Right along with the rest of the world, Algeria's economy has begun to recover, amid increased public spending. Because of its better macroeconomic policy, Algeria has minimized its debt and built financial stability. The country's macroeconomic statistics have been good so far this year:
* Growth in the nonhydrocarbon sector is predicted to exceed 5%, because of the industrial boost provided by the PIP (Public Investment Program). The output of hydrocarbons will likely stabilized, and contribute 3.3% growth to the gross domestic product.
* Inflation has declined to roughly 4.6%, because of dropping prices for fresh food. Inflation remains low because of sound fiscal policy, and governmental price supports on some essential foodstuffs.
* Algeria's position has gotten better since last year, and it's still very stable. The country had an international reserve of $157 billion at the end of this past September. This high reserve is attributed to an increase in hydrocarbon prices and decreased imports.
* Although there is more revenue from hydrocarbons, the country will remain in a budget deficit, because of the aforementioned increase in public spending. However, the budget shortfall has decreased to 4% of the GDP this year, compared with last year's figure of 6.8%.
For next year, the nonhydrocarbon business sector will likely continue to excel. The main fiscal goal for Algeria in 2011 will be to keep up efforts to improve infrastructure while remaining within budget.
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